Horizons ETFs Sets Unit Consolidation Ratio
TORONTO, Jan. 4, 2013 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate Horizons ETFs Management (Canada) Inc., the manager and trustee of the Horizons U.S. Dollar Currency ETF (the "ETF"), which is listed on the Toronto Stock Exchange ("TSX") under the symbols DLR and DLR.U, has announced today that it has set the consolidation ratio (the "Consolidation Ratio") for the previously announced consolidation of units of the ETF, as outlined below:
After the TSX closed for trading today, January 4, 2013, the units of the ETF will be consolidated based on a Consolidation Ratio of 1:1.009601, i.e. for every 1.009601 pre-consolidation units outstanding, one (1) consolidated unit will be issued, such that the net asset value ("NAV") of the units of the ETF traded on the TSX under the ticker symbol DLR.U will now equal $10.00 USD after the consolidation. The units of the ETF will begin trading on a consolidated basis on Monday, January 7, 2013, the effective date of the consolidation. No fractional units will be issued in connection with the consolidation and, in the event that a unitholder would otherwise be entitled to receive a fractional unit upon the unit consolidation, such fraction will be rounded down to the nearest whole number.
For further information visit www.HorizonsETFs.com
About Horizons Exchange Traded Funds Inc. (www.horizonsetfs.com)
Horizons ETFs is an innovative financial services company offering the Horizons ETFs family of ETFs. The Horizons ETFs family includes a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. With approximately $3.6 billion in assets under management and 79 ETFs listed on the Toronto Stock Exchange, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs is a subsidiary of Horizons ETFs Management (Canada) Inc. and a member of the Mirae Asset Financial Group.
SOURCE: Horizons Exchange Traded Funds Inc.For further information:
Martin Fabregas, Investor Relations, (416) 601-2508 or 1-866-641-5739.